The LLC is the most commonly used business form in Bulgaria.
Key Features
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Minimum capital: EUR 1
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Corporate tax: 10%
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Dividend tax: 5%
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Full foreign ownership and management allowed
Timeline
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Typical registration: 3–5 working days (depends on banking and notary speediness)
Example
A foreign entrepreneur sets up an EOOD:
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Capital: EUR 1
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Activity: consulting
- Owner: non-EU citizen
The company is fully operational within one week.
Foreign Owned and Managed LLCs Banking Issues
Please, keep in mind, for Non-Bulgarian residents it may be problematic to open initial bank account for capital deposit. That would turn into a barrier to open the company. In that case, a Bulgarian manager can be used initially to open the account and then be changed to another director. Later on a physical bank account is not required and you could use an online bank instead (Revolut, Paysera etc.)
